QUEBEC | The Quebec government granted $ 3.8 billion in tax credits to oil, mining and gas companies between 2001 and 2018, Quebec solidaire (QS) protested on Sunday morning.
The preferential treatment in force since 2001 has even benefited companies in the mining industry which do not employ any Quebecers or which are downright inoperative in the Belle Province, underlined the left party which thus reacted to the study of credits. of the Department of Energy and Natural Resources, held over the past few days.
“While our schools and our hospitals were creaking under all their seams, the government of Quebec let escape hundreds of millions of dollars in tax revenues for the benefit of the extractive industry”, denounced the representative of solidarity and criticism of the matter. environment, Ruba Ghazal, in a statement.
“Colony-counter”
According to the politician, about $ 600 million in tax credits went to foreign companies, or more than half of the tax credits related to resources. In addition, $ 316 million went to the coffers of companies that have no employees in Quebec.
“Not only do we let them extract our resources for a pittance, but in addition, we pay them to come and do it,” she lamented, describing Quebec as a “colony-counter”.
“This money could support the ecological transition and the creation of green jobs here in Quebec instead of swelling the pockets of foreign shareholders in the extractivist industry,” added Ms. Ghazal.
Currently, mining companies are subject to a tax on the value of their production, which ranges from 1% for the first $ 80 million in minerals, to 4% for the surplus.
In addition, mines must pay a tax ranging from 16 to 28% on their annual profits.
According to the latest data available from the Institut de la statistique du Québec, the value of the ore extracted in the province reached $ 10.73 billion in 2018. The industry also generated approximately 18,000 jobs representing approximately $ 2 billion in payroll. .
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